Announcing Altair: Centrifuge’s Kusama Parachain
Push the limits of financing your assets on Kusama.
Centrifuge is excited to introduce the world to Altair — the home for financing assets on Kusama. Built for risk-takers and innovators who dare to push the limits of DeFi: powered by the AIR token
Take Your Assets Interstellar 💫 with Altair.
Altair combines the industry-leading infrastructure built by Centrifuge to finance real-world assets (RWA) on Centrifuge Chain, with the newest experimental features — before they go live on Centrifuge Chain.
Altair is built using Substrate, and will have nearly the same codebase as Centrifuge Chain (just like Kusama is to Polkadot!). It is an experimental network for users who want to test the bounds of asset financing. From art NFTs to undiscovered assets — Altair enables users to tokenize their most experimental assets and finance them. It is the next step for anyone looking to unlock financing for their assets.
Interoperability is the key to increasing liquidity in DeFi. Altair will bridge across the Kusama, Polkadot, and Ethereum ecosystems to allow assets to access financing wherever it is available. In the future, Altair can connect more and more projects across these ecosystems — using Kusama to allow anyone to access DeFi liquidity. The more connected chains, protocols, and Dapps are — the greater the flow of liquidity will be.
Altair plans to be one of the first parachains live on Kusama. To show interest in participating in our crowdloan 👉 sign up here! 👈
Altair + Kusama = Rapid Progress 🚀
Kusama is an experimental development environment for teams who want to move fast and innovate, and to prepare for deployment on Polkadot. Kusama provides much faster and daring parameters — which will allow for rapid progress and growth on Altair.
Using Altair, anyone can tokenize their assets and use them as collateral to access financing through Tinlake, our asset-backed lending Dapp. Users originate individual non-fungible assets used as collateral for loans, and Altair connects users to the DeFi ecosystem on Kusama and enables borrowing from many other protocols.
Altair is built by Centrifuge, and owned and governed by the community from day 1* of launch.
*Altair will launch as an empty Shell on Kusama (read more by Gavin Wood on that here), and a runtime upgrade will be performed shortly after to then enable accounts, balances, and governance, and more.
The AIR Token 🦅
The AIR token is the native token of Altair. With basic functionality delegated to Kusama, the AIR token has no limits — it can become more than a traditional network token.
The AIR token powers Altair with the utility to:
- Govern the development of Altair
- Pay for transaction fees
- Secure the chain
- Reward adoption
Token Distribution
At genesis, the Altair network will take a snapshot of the balances on Centrifuge chain to distribute AIR tokens to CFG token holders, 1 AIR : 1 CFG. The token supply will be 425 million at launch.
A percentage of all transaction fees will be burned. Long-term, this burning mechanism will serve to stabilize the token supply.
AIR tokens will be minted over time to incentivize chain security: through rewards to crowdloan participants on Kusama as well as to collators and nominators on Altair. Tokens are also minted and rewarded to Tinlake participants in order to incentivize adoption.
The Altair Crowdloan
Altair will bid on one of the first parachain slots on Kusama. In order to secure enough KSM — Altair will host a crowdloan for KSM holders. All participants that lock KSM for Altair’s parachain slot in the crowd loan will receive AIR as a reward.
AIR Rewards
For participating in the crowdloan, Altair will reward participants 50+ AIR : 1 KSM locked. The exact amount of AIR distributed to each KSM locked will depend on the price of the parachain slot and participation in the crowdloan.
25% of the reward will be unlocked, while the remaining amount will be distributed to crowdloan participants over the length of the parachain slot.
KSM holders will have the option to participate directly through the crowdloan hosted by Altair — or by participating through another platform(s) (TBA!).
We will announce more details regarding our timeline soon. Stay tuned! To show interest in participating in our crowdloan — sign up here!
Ready to take Flight
If you are interested in participating in the Altair crowdloan 👉 make sure to sign up and subscribe to our newsletter!
Push the limits of your KSM with Altair 💫
Centrifuge
The untapped multi-trillion dollar market of real-world assets (RWA) is now entering Decentralized Finance (DeFi) through Centrifuge: the first protocol to connect DeFi to the real-world. Businesses are using Centrifuge today to access the liquidity that DeFi offers, while investors finance assets for an attractive, stable yield.
Centrifuge has the highest TVL in the Polkadot ecosystem — and will be among the first to launch a Parachain on Polkadot. Centrifuge chain is built on Polkadot for speed and low fees, while its financing Dapp, Tinlake, is built to access the massive liquidity on Ethereum. The native token CFG has its own bridge to Ethereum.
